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Confidential
Disclaimer
ASUSTeK’s presentation contains forward-looking
statements subject to significant risks and
uncertainties. Actual results may differ materially from
those contained in the forward-looking statements.
The forward-looking statements in this release reflect
the current belief of ASUS as of the date of this
release, we undertake no obligation to update these
forward-looking statements for new information,
future events, or otherwise.
Confidential
2Q 2017 Brand I/S (unaudited brand consolidated financials)
in NT$ Mn 2017 2Q 2017 1Q QoQ 2016 2Q YoY
Net Revenue 86,546 98,206 -12% 93,938 -8%
COGS (76,549) (85,055) -10% (81,355) -6%
Gross Profit 9,997 13,151 -24% 12,583 -21%
Operating Expenses (8,252) (9,342) -12% (8,820) -6%
Operating Income 1,746 3,809 -54% 3,762 -54%
Non-OP Items 718 855 -16% 1,542 -53%
Pre-Tax Income 2,463 4,664 -47% 5,305 -54%
Tax (453) (1,013) -55% (1,179) -62%
Net Income 2,010 3,651 -45% 4,125 -51%
EPS 2.7 4.9 5.6
Gross Margin % 11.6% 13.4% 13.4%
Operating Margin % 2.0% 3.9% 4.0%
Confidential
2Q 2017 Non-OP Items (unaudited brand consolidated financials)
Non-OP Items 2017 2Q 2017 1Q QoQ 2016 2Q YoY
Interest Income (net) 265 241 10% 194 36%
Investment Income 10 (9) 211% 145 -93%
Askey (166) (137) -21% (6) -2736%
Others 176 128 38% 151 17%
Exchange Gain/(Loss) 509 495 3% 942 -46%
Dividend Income 5 #DIV/0! 4 41%
Other Income (net) (72) 129 -156% 258 -128%
Total Non-OP items 718 855 -16% 1,542 -53%
Confidential
2Q 2017 Brand B/S in NT$ Mn Jun 30, 2017 Mar 31, 2017 QoQ Jun 30, 2016 YoY
Cash & equivalents 65,250 68,304 -4% 60,329 8%
Accounts receivable 70,361 72,207 -3% 69,362 1%
Inventories 88,813 82,961 7% 81,463 9%
Current Assets 231,496 229,275 1% 220,751 5%
Long-term investments 80,795 81,971 71,471
Fixed assets 9,240 8,659 4,317
Total Assets 335,191 334,295 0% 307,306 9%
Accounts payable 56,298 55,450 2% 40,569 39%
Current Liabilities 151,262 137,305 10% 133,130 14%
Total Liabilities 161,354 147,461 9% 142,352 13%
Paid-in capital 7,428 7,428 7,428
Stockholders' equity 173,835 186,833 -7% 164,954 5%
Avg. Days of Inventory 102 88 94
Avg. Days of AR 75 69 70
Avg. Days of AP 71 69 48
Avg. CCC Days 106 87 116
Confidential
Component
14%
Product Mix
PC
63%*
Mobile
17%
IOT
3%
Component
17%
2Q 2017 2Q 2016
PC
65%
Mobile
18%
IOT
3%
* Gaming PC accounts for 20%~25% of PC revenue
Confidential
EURP
35%
ASIA
42%
Americas
23%
Region Mix
2Q 2017 2Q 2016
EURP
37%
ASIA
39%
Americas
24%
Confidential
3Q 2017 Business Outlook
• PC QoQ +10% ~ +20%
• Mobile QoQ +20% ~ +30%
• Component QoQ +5% ~ +10%
ID Roadmap Technology Roadmap Product Roadmap
Marketing Roadmap
R e i n f o r c e V a l u e S t r e a m
1
2
3
Global Launch global leagues for professionals and amateurs. Align with organizations that feature the highest level of play.
Local Host and sponsor local LAN events. Sponsor top teams per region and invest in collegiate orgs. Acquire top streamers and deliver localized content.
Personal Engage with fanbase on a personal level through communication at retail and pre/post sales interaction through social media.
“Gaming laptops will never be the same again” - Engadget.
“The Zephyrus is a revolutionary gaming-laptop design”
– Computer Shopper.
“It’s the best performing
15.6-inch notebook we’ve ever tested” – Hot Hardware.
ROG GX800 “The Asus ROG GX800 is the craziest computer I’ve ever used…you absolutely don’t need one, but will want one all the same.” – Trusted Reviews
Confidential
Arthur Hsieh, UBS-Analyst
• Can you share the OPM guidance for 3Q and 2H2017? Or in compare to 1Q2017 OPM level?
• As this result is unexpected and if any unusual stock volatilities occur in the market, are you going to announce stock repurchase program? Can we assume dividend of NTD 15 per share as the minimum?
• Any expense impact after the corporate restructuring?
• Since the OEMS may not have the resources to support smaller scale of gaming volume, what’s your views on the own production house?
• Razer Chroma’s lighting effect is being manufactured in-house. How long will it take for you to bring AURA sync to the market?
• How does ROG attract gamers? Can you comment on the positions and the selling point?
Confidential
William Yang, Citi-Analyst
• In regards to Windows on ARM, can it bring any opportunities and pose any challenges for the company?
• Windows RT was not very successful in the past. Do you see any impacts on the supply-chains for Windows on ARM?
• Any thoughts that you can share in regards to the settlement case with VIA Technologies Inc.?
Confidential
Melrose Chiu, Morgan Stanley-Analyst
• With stable PC demand and increasing component cost, shouldn’t the Brand company be more conservatives in the pricing and yet pricing competition is increasing? Can you comment more on this?
• Currently, gaming PC as of sales mix is around 20-25% and with the improvement on the product mix, at what percentage of sales mix on the premium segment can we expect the OPM to return to the historical level?
Confidential
Arthur Liao, Fubon-Analyst
• 2Q operating expense is not any different from 1Q, what’s dragging the overall OPM? Is it the smartphone business? Can you share the amount of loss from the smartphone business?
• In regards to the corporate restructuring, PC and gaming PC are relatively in the same segment, why do you separate those two?
• How you see view the business in next two years with increasing smartphone competitions in Malaysia and Indonesia?
Confidential
Huang, Topology Research Institute-Analyst
• What’s your smartphone strategy for the dual-cam module?